Refer to the graph showing the demand for books. The quantity demanded when price is $16.00 is:

A. 4 books.
B. 8 books.
C. 2 books.
D. 6 books.


Answer: C

Economics

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If the British sell more Rolls Royce cars to the United States, the United States __________ more pounds and __________ more dollars in the foreign exchange market

A) supplies; supplies B) supplies; demands C) demands; supplies D) demands; demands

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Answer the following statement true (T) or false (F)

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Comparing a lottery where a $1 ticket purchases a chance to win $1 million with another lottery in which a $5,000 ticket purchases a chance to win $5 billion, we notice many people would participate in the first but not the second, even though the odds of winning both lotteries are the same. We can perhaps best explain this outcome by:

A. lower value at risk for the lottery paying $1 million. B. higher expected value for the lottery paying $5 billion. C. higher expected value for the lottery paying $1 million. D. higher value at risk for the lottery paying $1 million.

Economics